Vishal Mega Mart Share Price: The rival of DMart, has debuted on stock exchanges. On BSE, Vishal Mega Mart was listed at a 41% premium from its IPO price on December 18, while it was listed at a premium of over 33% on NSE. Experts have advised investors who booked the IPO to hold for the long term while suggesting non-allotted investors ACCUMULATE the stock. Currently, the stock price has been corrected.
Vishal Mega Mart Share Price:
BSE Listing:
On BSE, Vishal Mega Mart listed at Rs 110 apiece on December 18, which is a premium of 41% from its IPO issue price of Rs 78. The stock is listed in the B category on BSE, while its new 52-week high and low is at Rs 110.95 apiece and Rs 104.92 apiece.
At the time of writing, the stock is trading at Rs 109.61 apiece, which is up by 40.5% from its IPO price, but marginally down from the listing price.
NSE Listing:
The stock opened at Rs 104 apiece, which is at a premium of 33.33% from its IPO price of Rs 78 apiece. The stock's 52-week high and low are at Rs 111.19 apiece and Rs 104 apiece respectively.
At the time of writing, the stock traded at Rs 109.68 apiece, which was up by 5.5% from its listing price, and higher by 40.6% from its IPO price.
The 100% book building opened on December 11 and closed on December 13. The price band for the IPO was fixed at Rs 74 to Rs 78 per share. The IPO is an entirely offer for sale (OFS) worth Rs 8,000 crore. On the final day of its bidding, Vishal Mega Mart oversubscribed by 28.75x on December 13.
What Should Investors Do?
Prashanth Tapse, Sr VP Research - Research Analyst at Mehta Equities said, "Despite a subdued market along with 100% OFS, Vishal Mega Mart listing was in line with market expectation. I believe retail investors missed this opportunity wherein they had shown less interest in bidding. 33.33% premium over the issue price of ₹78 Listing is justified as we believe it was all because of reasonable valuations when compared to its listed peers and high focus towards catering to India's growing middle- and lower-middle-income demographics which is strategically focused on underpenetrated markets."
He added, that considering the volatility in the market sentiments and all other parameters, allotted conservative investors can think of booking profits today, while long-term risk-taking investors can consider the company to HOLD IT FOR LONG TERM despite knowing short-term volatility & risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post-listing due to profit booking attempts.
On BSE and NSE, Vishal Mega Mart is rivalling against Avenue Supermarts (DMart) and Trent.
Vishal Mega Mart Ltd is a one-stop destination for middle and lower middle-income India. They curate a diverse range of merchandise through their portfolio of own brands and third-party brands to fulfil the aspirational and daily needs of consumers.
Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.
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